current economic climate, Syscap, the independent IT finance
provider, has taken steps to lower operational costs.
The company has made several changes to its sales and marketing
strategy this year, including a reduction of “about 15 percent” of
its full-time workforce. In July, the company had announced it
would be undertaking a review of its operations and activities.
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“This is very much a part of the review,” explained Syscap CEO
Philip White. “We need to reflect the cost-base to the income.”
According to White, the economic climate emphasised areas of
inefficiency, which, “as normal prudent business management”, meant
reducing headcount and a cessation of nonessential services.
While White insisted the company remains committed around its
core market, the IT sector, he also admitted that the current
economic climate has made Syscap focus on certain areas over
others.
“It’s about aligning your own strategy against the backdrop of
the current environment,” he said.
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By GlobalDataSyscap currently has £350 million (€437.46 million) worth of
assets under management and White estimates that the company has
written around £50 million of new business since April 2008.
